Benchmark Reiterates Buy Rating on Tilray (TLRY), $200 Price Target
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Benchmark analyst Mike Hickey reiterated a Buy rating and $200.00 price target on Tilray (NASDAQ: TLRY).
The analyst comments "TLRY delivered better than expected sales performance and reaffirmed its FY19 view. The Company plans to add 203K sq. ft. at 3 of its existing facilities located in Leamington, London, and Nanaimo; total production and manufacturing footprint will expand from 1.1M to 1.3M sq. ft. Key sales catalysts include the upcoming legalization of cannabis edibles in Canada and the U.S. CBD market. The management team was cautious on Canadian regulatory environment, and related ongoing supply constraints that could last another 18 to 24 months."
Shares of Tilray closed at $50.55 yesterday.
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